Zimmer Biomet (NYSE:ZBH) Given “Hold” Rating at Truist Financial

Truist Financial restated their hold rating on shares of Zimmer Biomet (NYSE:ZBH) in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a $117.00 price objective on the medical equipment provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Zimmer Biomet from $130.00 to $120.00 and set a hold rating for the company in a report on Tuesday, August 20th. Oppenheimer decreased their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating for the company in a report on Thursday, August 8th. Robert W. Baird lowered their price objective on shares of Zimmer Biomet from $155.00 to $145.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. Raymond James cut their target price on Zimmer Biomet from $138.00 to $128.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on Zimmer Biomet from $130.00 to $120.00 and set an equal weight rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $126.00.

Zimmer Biomet Price Performance

Shares of NYSE:ZBH opened at $104.81 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $110.04 and its two-hundred day moving average is $116.88. The firm has a market capitalization of $21.34 billion, a P/E ratio of 22.69, a PEG ratio of 2.04 and a beta of 1.02. Zimmer Biomet has a 52 week low of $102.00 and a 52 week high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its earnings results on Wednesday, August 7th. The medical equipment provider reported $2.01 EPS for the quarter, beating the consensus estimate of $1.99 by $0.02. Zimmer Biomet had a return on equity of 12.86% and a net margin of 13.25%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $1.82 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Zimmer Biomet will post 8.06 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 annualized dividend and a yield of 0.92%. Zimmer Biomet’s dividend payout ratio (DPR) is presently 20.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZBH. Price T Rowe Associates Inc. MD grew its stake in Zimmer Biomet by 12.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,642,801 shares of the medical equipment provider’s stock valued at $1,404,638,000 after purchasing an additional 1,215,935 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Zimmer Biomet by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 6,463,845 shares of the medical equipment provider’s stock valued at $701,521,000 after buying an additional 722,041 shares in the last quarter. Primecap Management Co. CA increased its holdings in Zimmer Biomet by 10.5% in the fourth quarter. Primecap Management Co. CA now owns 5,086,578 shares of the medical equipment provider’s stock worth $619,037,000 after buying an additional 484,151 shares during the last quarter. Victory Capital Management Inc. raised its position in Zimmer Biomet by 6.7% during the second quarter. Victory Capital Management Inc. now owns 3,364,624 shares of the medical equipment provider’s stock valued at $365,163,000 after acquiring an additional 211,637 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Zimmer Biomet by 5.3% in the second quarter. Van ECK Associates Corp now owns 3,325,598 shares of the medical equipment provider’s stock valued at $360,927,000 after acquiring an additional 167,038 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.

About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.